Bloomberg speculates on potential Syngenta dealmaking

Syngenta (SYT-0.3%) is open to a deal, whether as an acquirer or as a target, perhaps with Dow Chemical (DOW-1.4%) or DuPont (DD+0.2%), Bloomberg speculates.

SYT and Monsanto (MON-0.5%) held preliminary talks with advisers earlier this year about a combination that never came to fruition, which shows SYT’s willingness to make a deal, analysts say.

One option discussed is a takeover of Dow’s agricultural business, which Dow is open to divesting; SYT also could merge with DuPont and then spin off the U.S. company’s non-agricultural businesses.

Dow may be a better candidate to use a SYT acquisition to relocate overseas for tax advantages, analysts suggest, but with the Obama administration looking at ways to discourage tax-inversion acquisitions, DuPont’s well-known brands and sales to the U.S. military may spark greater political pushback.